A Hot Tip You Can Take to the Bank!

“The power of compound interest is the most powerful force in the universe.” ~~Albert Einstein

How would you like higher returns with no added risk?? Seems too good to be true, right? Well it’s not…if you put your savings into an online, high yielding, FDIC guaranteed cash account.

As my favorite Wall Street Journal columnist, Jason Zweig, recently wrote: “With a few clicks of the mouse, you can crank up the yield on your cash by 2 percentage points, often adding hundreds—even thousands—of dollars to your investment income annually.”

I’m here to tell you. Switching to a higher yield can make a huge difference.

A few months ago, my ace bookkeeper, Ben Falge, suggested I transfer my savings, which was earning .09%, to an online account (Citigroup360) paying 2%. Didn’t seem like a big deal, but I did it.

Last week he showed me what a big deal it was. My local bank had been paying me $185 in monthly interest. But that soared to $550 a month when I switched. Just this week, I moved that money to another online account, Ally, paying 2.2% interest. Ben estimates my monthly interest income will rise to $650. Now that’s a big chunk of change!

I encourage all of you to ‘Just do it!’ Now! Open a high paying online account. As columnist Zweig wrote: “You may never get an easier chance to raise your return at no extra risk.”

Do you have a favorite online bank you’d recommend? Leave a comment below.

Do you know that women learn better in community? Try my new virtual community, The Wealth Connectionand learn to Grow Your Wealth!

Hi Ellen…great to hear from you. I heard that Marcus, Goldman Sachs new back for the average person, pays high interest. But didn’t know about the others. Thanks for telling me. It’s funny the article said the only thing that stops people from switching to these higher rates is laziness…though he called it ‘inertia’….same thing. I hope you do it!

Meet Barbara Huson

When a devastating financial crisis rocked her world, Barbara Huson knew she had to get smart about money… and she did. Now, she wants to empower every women to take charge of their money and take charge of their lives! She’s doing just that with her best-selling books, life changing retreats and private financial coaching.

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